BIM CEO to Present at NACHA Payments 2016

April 15, 2016

BIM CEO Adam Frisch will lead a discussion on “Big Players, Big Impact: Merchants Driving ACH Payments Innovation” at the NACHA Payments 2016 Annual Conference in Phoenix, Arizona on Tuesday, April 19, 2016 at 11:25am.

ACH is now a real payment option at the POS ­- wherever that may be.  And that is an underappreciated but important development in the evolution of the payments industry. By leveraging the inherent economic benefits of ACH, merchants are able to self-fund their customer loyalty and incentive programs, while simultaneously creating mass customization of a better buying experience.  By driving their customers to their app and website and offering a branded debit tender at checkout, merchants are significantly mitigating the potential brand and data disintermediation that can result from mobile and eComm transactions.  Buy It Mobility Networks Inc.’s (BIM) ACH payment tender is evolving right along with this industry to help enable consumers to quickly and securely connect their checking accounts to apps and make payments at the cash register, table or pump, encompassing the big-box, convenience, pharmacy, fuel, grocery, quick-and full-service dining, specialty-retail and transit categories whether it is with individual merchants or part of MCX’s CurrentC offering.  This session will show how BIM is working to improve the consumer buying experience with additional secure payment options, and streamlined account provisioning, enrollment authentication and account verification processes, and learn how merchants are benefitting from guaranteed transactions with fast and regular settlement timeframes.  ACH is at the POS, and BIM is powering that movement.

NACHA Payments 2016 is one of this year’s most prestigious conferences with thousands of industry leaders in attendance.  To learn more about this session and others, visit the Payments 2016 website.

BIM’s Key Points of Differentiation Highlighted by Digital Transactions

April 4, 2016

Digital Transactions summarized some of BIM’s key points of differentiation in an April 1, 2016 article by Jim Daly called “What’s In Your Mobile Wallet? It Might be the ACH”.

In the context of discussing the top companies focused on ACH, BIM was described as follows:

“Founded in 2009 but not pursuing its present course in mobile payments until 2013, [BIM] offers merchants a white-label mobile wallet with ACH funding playing a prominent role.

BIM Networks differentiates itself by offering guaranteed next-business-day settlement—assuming the payment comes through by 3:30 p.m. Eastern time—and condensing customer enrollment down to a less than a minute.

“We can get enrollment done in about 40 seconds,” says chief executive Adam Frisch, adding that competing wallets typically need at least a day, often two or three, to complete testing and risk assessments.

BIM Networks transactions average 1.5 to 1.8 seconds, Frisch says. The company supports such technologies as QR codes, near-field communication, and beacons.

“We’re agnostic,” Frisch says. “We make it really easy for our merchants. We accommodate whatever technology the merchant has today.”

BIM Networks, which claimed 3 million consumers on its platform as of last October through an undisclosed number of merchant partners, got an endorsement that same month from Merchant Customer Exchange LLC (MCX), the retailer-controlled consortium developing the CurrentC mobile wallet. MCX said it would use BIM’s platform to provide an ACH option for its retailers’ customers.”

 

The full article can be found here: What’s in Your Mobile Wallet? It Might Be the ACH